Importance of a Warehouse Equipment Liquidation Plan
As a business owner or a warehouse manager, it is essential to update our warehouse inventory. There are times when you will find excess or obsolete items or equipment. However, these items can still be helpful to others; that is where warehouse equipment liquidation plan comes in.
Having a warehouse equipment liquidation plan can guide you to have a sustainable way of disposing of equipment reasonably. However, a lack of a sound plan can lead to lost revenue, resource waste, and a damaged reputation when selling your equipment. Yankee Supply could guide you in generating a concrete liquidation plan.
If you are looking forward to selling equipment that is no longer needed or closing your warehouse, you should read on. This blog will give you strategies for creating a profitable and sustainable liquidation plan for your warehouse.
Assessing Your Warehouse Equipment Catalog
Before you start liquidating, it is essential to assess your catalog. The assessment will help you determine which equipment should be included in the liquidation exercise, how much you can get from it, and how you should sell it. Here are some tips on how to assess your catalog effectively:
Categorize items by condition and value
This will make it easier to tell which parts are in good functioning condition and which ones need to be repaired or are damaged. To decide the prices you may charge for things, you must also group them according to their market worth.
Consider the demand for your equipment
Items with high demand can be sold for a higher value, while those with lower demand can be sold at a lower cost to attract prospective buyers.
Determine a fair market value of your equipment
Consider the equipment’s age, condition, and demand in determining each market value. You can also search online or consult an appraiser to get an accurate value of your equipment.
Now that you have a well-designed catalog, it is time to sell your assets. Each option has its pros and cons. Your catalog and objectives will determine which choice is ideal for your warehouse. These are some options:
Reselling
If you have many items in your catalog, working with a reseller is one of the best options. You might lose a part of your profit, for you will be paid cheaper than your expected market value. Fortunately, choosing this option have the greatest benefits: less hassle on your end, because these professionals will take care of your selling process quickly and efficiently, without interfering with you even if you have other tasks on hand. Yankee Supply is one of the reputable companies that could take care of these things for you easily, and will not let you worry about the liquidation process.
Online Auction
If you have a wide range of products to sell and are ready to wait for the best price, an auction might be an excellent option. It may drive larger potential buyers, which can also drive higher prices, but it would take a lot of your time for preparation and may not be feasible for larger items.
In-person sale
This option lets buyers see items in person before purchasing. The downside is it may attract a smaller audience, and you must invest more in advertising to attract more prospective buyers.
Managing Logistics and Costs
The next thing you need to manage after your liquidation is the logistics. In setting up logistics, one must consider its cost to ensure that you can still maximize your profit. Here are some tips for managing logistics:
Scheduling pick-up and delivery
You must schedule pick-up and delivery when items are sold to resellers or online. Remember that liquidated items must be delivered on time and in good condition. Third-party logistics might help you save time and cost for deliveries.
Negotiating transportation costs
Transportation charges might be a substantial expense during a liquidation sale. If you want to get the greatest deals from transport firms, consider utilizing a broker who can bargain. In addition, by combining shipments and utilizing a shared trucking service, you may also save money.
Hiring temporary staff
Temporary staff can help you load and unload equipment, run the sale, and provide customer service. Hiring staff depends on the size of your liquidation sale but hiring them temporarily or through an agency could also cost you less.
Minimizing storage costs
Storage fees would cost you more if you could not sell all your items. A short-term lease could be an option for renting a warehouse or storage space. You may also consider reselling any unsold stock to a reseller or giving it to a good cause.
All these or you can click this link now and let liquidators from Yankee Supply do the job for you. We cover the shipping on stuff we buy and we handle all of the logistics with our own freight supplier.
A plan to last a lifetime (of your warehouse at the very least)…
With these pointers, you should now be ready to design a plan that will last for the ages and increase your chances of reaching those elusive profit goals you set.
Looking for help or a potential buyer? Yankee supply provides PROVEN warehouse liquidation services NATIONWIDE. We can also buy your equipment for your and save yourself from all the hassle. Book an appointment with a Yankee Supply professional today!
